REAL ESTATE (REGULATION & DEVELOPMENT) ACT,2016
Real Estate (Regulation & Development) Act, 2016 is made effective
from 1st May, 2017
and all new projects as well as on going projects are required to be registered and update their
data with rera authority as a matter of transparent mechanism for end users.
The four pillars of preamble of RERE laws which aim to protect the interest of allottee are:
The four pillars of preamble of RERE laws which aim to protect the interest of allottee are:
RERE has now completed five years of operation across india and many state and uts have
established regulatory authority and tribunal to address the issues faced in realty sector
to
achieve the prime objective behind very enactment of RERE law.
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JUDICIAL HIERARCHY SIMPLIFIED:
An attempt is being made to shift burden from judicial court to
newly designed adjudication mechanism through regulatory authority and Designated Appellate
Tribunal to achieve one of the core objective of enactment of law i.e redressal of disputes
and
speedy disposal thereof. The disputes are now addressed in the following hierarchy from
bottom
to top and thereby releasing burden on civil court.
